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-Refer to Exhibit 34-3

Question 21

Multiple Choice

-Refer to Exhibit 34-3.The world price is P<sub>W</sub>.If a tariff is imposed,the price rises to P<sub>W</sub> + T.Because of the tariff,government collects tariff revenues equal to the area of A) 1. B) 1 + 2. C) 3. D) 1 + 2 + 4. E) 1 + 3.
-Refer to Exhibit 34-3.The world price is PW.If a tariff is imposed,the price rises to PW + T.Because of the tariff,government collects tariff revenues equal to the area of


A) 1.
B) 1 + 2.
C) 3.
D) 1 + 2 + 4.
E) 1 + 3.

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